Pressure is from rent, food, transport, fees among other needs Findings show 38 per cent occasionally spend more than their monthly budgets /AI Generated Young working Kenyans are increasingly turning to borrowing, side hustles and multiple income streams to navigate the high cost of living, However despite the challenge many remain optimistic about their financial future, a new report shows.
The Old Mutual Financial Wellness Monitor 2025 shows that 43 per cent of young Kenyans have borrowed to meet everyday expenses, highlighting the pressure facing households as incomes struggle to keep pace with spending needs. Another 38 per cent occasionally spend more than their monthly budgets, pointing to growing difficulties in managing day-to-day finances.
The findings paint a picture of a young population that is financially ambitious but under pressure. While 83 per cent of people aged 20 to 29 have a positive outlook about their finances, many are relying on debt and additional income sources to stay afloat. Financial satisfaction among the group rose from 34 per cent in 2024 to 45 per cent in 2025.
At the same time, 42 per cent said they earned more than they did a year earlier. The improvement in income, however, has not eliminated financial stress. Old Mutual Group head of marketing and communications Annie Nibishaka, said young Kenyans are increasingly building their financial lives around more than one source of income to survive the tough times.
"The growth of entrepreneurship and diversified income streams demonstrates strong adaptability. However, this progress needs to be matched by greater financial protection, emergency savings and long-term planning if it is to translate into sustainable financial security,” said Nibishaka.
Nearly a quarter of young respondents, or 24 per cent, earn money from multiple sources, while 39 per cent own or part-own a business.